Your most important asset is your ability to work and earn a living. What happens if you weren’t able to earn money for 90 days, a year or even longer? How would you pay for your mortgage, food, cars and other bills? How long could you and your family survive?
The risk of disability
The odds of suffering a long term disability are high for all workers because illness—not accidents—account for 90% of disabilities that keep people out of work.
Don’t count on group disability coverage
Your employer or group disability insurance plan may not be all you think it is. One overwhelming disadvantage of group disability insurance is that it can be reduced or even terminated if you leave your current employer.
A better option is to get coverage with an individual disability insurance policy you purchase on your own. A privately owned policy is portable, meaning you won’t have to worry about losing coverage if you change jobs.
Important features of disability income insurance policy that AccuQuote offer include:
- Non-cancelable – The policy’s premium can never be raised above the amount shown in the policy. As long as the premiums are paid on time, the benefits may not be reduced.
- Guaranteed renewable – You have the right to renew the policy with the same benefits, but the insurer can increase your premiums – as long as they are increased for all other policyholders in the same class
- Obtain peace of mind knowing that your family’s financial security would still be protected even if you were unable to earn an income due to a disability.